One of the first estimates from a big risk modeler for Hurricane Florence damage is in.
Karen Clark & Co. estimates $2.5 billion in insured damage for private-sector insurers. It includes privately insured wind, storm-surge and inland-flooding damage to residential, commercial and industrial properties and automobiles.
The estimate doesn’t include damage that would be covered under the federal government’s National Flood Insurance Program. The figure is dramatically lower than costs bandied about when Florence was a Category 4 storm; it made landfall Friday morning as a Category 1 storm.